Thu, Oct 31, 6:02 PM (63 days ago)
For the third quarter of 2024, Vontier Corporation (VNT) reported total sales of $750.0 million, a decrease of 2.0% from the prior year, with core sales growing by 2.8%. Operating profit fell to $131.5 million, down 7.8% year-over-year, resulting in a margin of 17.5%. The company’s net earnings were $91.8 million, slightly up from $90.6 million in Q3 2023, with earnings per share of $0.60. The cash flow from operations was $259.4 million, a decline from $290.1 million in the prior year, primarily due to increased working capital needs. Vontier's liquidity remains strong with $330.9 million in cash and $750 million available under its revolving credit facility. The environmental and fueling solutions segment showed resilience with a 5.5% sales increase, while the repair solutions segment faced challenges, dropping 5.1% due to macroeconomic pressures. The company also recognized a gain of $37.2 million from the sale of its Coats business. Despite uncertainties related to global market conditions, Vontier continues to focus on innovation and operational efficiency.